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Monday, May 30, 2016

Orbit Receives $1,3 M for Anti-Sub and Anti-Ship Surveillance Targeting System

  • Order Includes an Additional Option in 2011
(Hauppauge, New York, October 29, 2009) -- Orbit International Corp. (NASDAQ:ORBT), a defense electronics manufacturer, systems integrator and software solution provider, today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary ("Behlman"), has received an order for approximately $1,389,000 for a commercial-off-the-shelf (COTS) power supply for its COTS division to support a U.S. Naval anti-submarine and anti-ship surveillance targeting system. Deliveries under this contract are expected to commence in the first quarter of 2010 and continue until the fourth quarter of 2010.

This latest award represents the exercise of the fourth option of a contract that was negotiated in December 2006. This order also included an option for an additional award in 2011, which if exercised, could result in additional revenue in excess of $1,000,000. This is the third major COTS power supply award Behlman has received during the last few months. The Company also announced that Behlman's commercial division, which had been adversely affected by weak economic conditions, has recently seen greater demand for its commercial products which has resulted in an increase in orders.

Mark Tublisky, President of Behlman, stated, "Behlman continues to pursue a significant amount of business opportunities driven by our ability to provide customers with low cost, reliable COTS power solutions. Behlman has the unique ability to pursue program opportunities which typically include significant large production quantity requirements, while still remaining committed to a comprehensive line of catalogue power products for our longstanding global customers."

Tublisky, concluded, "We remain confident that Behlman's current business model, which emphasizes flexible COTS designs and superior customer service, will lead to continued growth."

Dennis Sunshine, President and Chief Executive Officer of Orbit International Corp., commented, "Behlman has had a very strong year in its COTS division and is well positioned to receive follow-on production orders on many of its programs. The strength in its COTS division has provided program opportunities that have more than offset the weakness in its commercial division. In spite of ongoing economic uncertainty, Behlman's commercial division, for the third quarter recorded its strongest bookings for the year and this increased demand for commercial power units has continued into the current fourth quarter. With a solid foundation of continued COTS program opportunities, now bolstered by increased business from its commercial division, our Behlman Power Group appears to be positioning itself for revenue and profitability growth in 2010."

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Source : Orbit International Corp.

Published on ASDNews: Oct 30, 2009


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